Core Module | 2026

Macroeconomics

Macroeconomics is taught by Fatih Kansoy as a part of the core "Economics" module in the MSc Financial Economics at Oxford Saïd Business School. This public page gives a concise course map for students. Full slides, videos, assessments, and internal class logistics are managed through Canvas.

Course Topics

Three teaching blocks

Block 1

Unemployment

Micro-founded labor-market models and evidence.

Theories of unemployment
Efficiency wage framework
Shapiro-Stiglitz model
Contracting approaches
Search and matching models
Empirical applications

Block 2

Budget Deficits and Fiscal Policy

Fiscal dynamics, debt policy, and macro stabilization.

Government budget constraint
Ricardian equivalence: theory and evidence
Tax smoothing
Debt accumulation and stabilization
Political economy of public debt
Costs of debt and debt-crisis mechanisms

Block 3

Financial Markets and Financial Crises

Financial frictions, crisis transmission, and macro effects.

Perfect financial markets benchmark
Agency costs and the financial accelerator
Cash-flow and investment evidence
Mispricing and excess volatility
Diamond-Dybvig banking model and contagion
Micro evidence on macro effects of crises

Materials and Access

Current delivery policy

For Students

Teaching files, assignment deadlines, recordings, and submission workflows are published on Canvas. Students should use Canvas as the operational course platform.

For External Readers

This page provides a compact topic map and module framing. Public-facing links to selected slides, derivations, and notes can be added later.